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Albemarle Corp (ALB): Today's Featured Chemicals Laggard

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Albemarle (
ALB) pushed the Chemicals industry lower today making it today's featured Chemicals laggard. The industry as a whole closed the day up 0.3%. By the end of trading, Albemarle fell $4.96 (-7.2%) to $63.81 on heavy volume. Throughout the day, 2,347,741 shares of Albemarle exchanged hands as compared to its average daily volume of 583,000 shares. The stock ranged in price between $63.63-$66.33 after having opened the day at $66.00 as compared to the previous trading day's close of $68.77. Other companies within the Chemicals industry that declined today were:
American Vanguard Corporation (
AVD), down 9.4%,
Ikonics Corporation (
IKNX), down 7.9%,
Terra Nitrogen Company L.P (
TNH), down 4.1% and
Gulf Resources (
GURE), down 2.9%.

Albemarle Corporation develops, manufactures, and markets engineered specialty chemicals. Albemarle has a market cap of $5.5 billion and is part of the basic materials sector. Currently there are 3 analysts that rate Albemarle a buy, no analysts rate it a sell, and 12 rate it a hold.

TheStreet Ratings rates
Albemarle as a
buy. The company's strengths can be seen in multiple areas, such as its expanding profit margins, good cash flow from operations, increase in stock price during the past year and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had sub par growth in net income.